Anyone who's been in the old car game a while knows it's boom or bust. The latter happened around 1990, when a hyper-inflated Ferrari market collapsed over a year or two, and just as spectacularly in 2007–2008 with Hemi cars, some of which lost two-thirds of their value within 18 months.

But there's also a sense that things have started to change. The market is thoroughly globalized in a way it wasn't a decade ago (only 20 percent of Russia had internet access in 2007, for instance), and cars continue to be more accepted as investments among people who otherwise wouldn't care about them. Sure, it could all be a bubble, but until then, here are some thoughts on what we might buy if it were our fortune on the line.

1. 1962-1965 Shelby Cobra (shown above)

The original, not the continuation. It's possible the Cobra has already peaked, because these things have gone insane, and we're talking (1962-1965) 260 and 289 Cobras, not 427s (shown), which are $1 million. You'll still need $800,000 to touch a small-block today, which is up from $500,000 five years ago and $150,000 in 2003.

2. 1970-1973 Datsun 240Z

Remember when these were $4,000? Like, in 2004? Well the average sale in 2013 was over $19,000. People who wanted one when the cars were young have discretionary income now. Plus, the Z looks great, is great to drive, and is easy to own. Those things won't change. $19,000 is not a lot of money, so you have to think the 240Z will lead any future movement in Japanese sports cars.

3. 1970-1971 Mercedes-Benz 280 SE 3.5 Cabriolet

No one ever really thought any regular-production, post-300SL Mercedes would be worth anything, because they were made to last forever. How can a car get more valuable when they just never seem to change? Then, three 280 SE 3.5 Cabriolets were sold last August at the Monterey auctions with an average price of—get ready—$265,833. In 2010, the average sale was $94,000. It's hard to think the extreme inflation will continue much longer, but it probably isn't over yet, either.

4. 1976-1981 Ferrari 512BB

Combine absolutely timeless bedroom-wall-poster looks with the exotic power of the Berlinetta Boxer's six-carburetor vee-crank flat-12, and you have a car destined for greatness. Prices haven't changed much since around 2007—the average is about $140,000 now, but you can still find deals under $100,000, about what a gray-market car would have cost you 35 years ago. Incredible. Buy two and wait patiently.

5. 2009 Alfa Romeo 8C Competizione

When Alfa comes back to the US, it'll be with the four-cylinder 4C. The new Alfa's a great car, but it's no 8C—an amazing one-year blip in Alfa's 19-year absence from the American market. Price now? About the same $250,000 as when they were new, assuming you can find one for sale. What did they sell here, 84 cars? And almost no one sells theirs. Most of them are being held in collections, although it'll be hard to develop a market if no one ever lets them go.

6. 1974-1985 Lamborghini LP400 Countach

The original Countach has long since been outdone in outrageousness by modern supercars, but what time has revealed is what a breathtakingly beautiful car the original, unadorned Countach was. Put one in a room full of the world's greatest cars, and it will still rock your world. Then there's the little matter of a screaming 375-hp, 4.0-liter six Weber V12. Early wingless Periscopa Countachs are probably $750,000 now and are just getting warmed up.

7. 1972-1974 BMW 2002tii

In some ways, this is a Germanic equivalent of the 240Z: light, potent, reliable, and above all, fun. And like the Datsuns, they weren't worth anything for many years because they were so abundant. 10 years ago, a nice tii pulled $10,000 all day long. Now they've blown past $20,000 are are probably only beginning to appreciate. Yes, BMW made 38,000 of the fuel-injected '02s, but an awful lot of them were used up. Even if you buy one and it doesn't move in price, you've still got a great car. You can't lose.